The economy must add 130,000 jobs each month to accommodate a growing adult population seeking work.

The key factor stifling jobs creation is sluggish GDP growth, which only advanced 1.3 percent in the second quarter and 0.3 percent in the first. Businesses can’t hire and pay new workers without more customers.

For much of the year, jobs creation has been running below Morici's benchmark. Additionally, growth forecasts for 2011-12 have GDP slogging along at 1-3 percent, which would mean unemployment at elevated levels for another year at least. In Southern California, this is troubling because our jobless rate, at 12 percent is well above the national level of 9.1 percent. In LA County, it's 12.4 percent, and in surrounding regions, it's even higher.

All indications are that Friday isn't going to bring much joy for the jobless.

Previously in The Breakdown

The Breakdown explains what's behind Southern California business and economic news. It describes the effects the headlines have on you: whether you're an investor, a business owner, an employee, homeowner, consumer or just someone who wants to know how to save a buck.